SECTION 3. GENERAL EXTENSION

OF REMEDIAL AMENDMENT PERIOD TO FEBRUARY 28, 2002

.01 The GUST remedial amendment period is extended to February 28, 2002, if the period would otherwise end before then. This extension applies to all GUST plan amendments, including all those plan

election is made in the same manner provided in Notice 2001–70.

In addition, certain taxpayers are required to file Form 2106, Employee Business Expenses, rather than Form 4562, Depreciation and Amortization, to report certain depreciation expenses. Accordingly, these taxpayers may make the election provided under Notice 2001– 70, as supplemented by this notice, by writing “Election Pursuant to Notice 2001–70” across the top of the taxpayer’s Form 2106. Taxpayers filing their returns electronically may make the election provided under Notice 2001–70, as supplemented by this notice, by typing “Election Pursuant to Notice 2001–70” in the Election Explanation (ELC) record when filing the Form 4562 or Form 2106.

Treasury and the Service intend to amend the regulations under § 168 to incorporate the guidance set forth in this notice. Until the regulations are amended, taxpayers may rely on the guidance set forth in this notice.

The principal author of this notice is Bernard P. Harvey of the Office of Associate Chief Counsel, Passthroughs and Special Industries. For further information regarding this notice, contact Mr. Harvey at (202) 622–3110 (not a toll-free call).

26 CFR 601.201: Rulings and determination letters (Also, Part I, §§ 401; 1.401(b)–1.)

Rev. Proc. 2001–55